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  • Amritsar Personal Loan

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  • Personal loans are unsecured loans which can be taken to support your upcoming expenses. Banks don’t ask for any security while offering a personal loan. Both self-employed and salaried individuals in Amritsar are eligible to apply for such loans.
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    We found 17 Amritsar Personal Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    10.75% - 21.45% Fixed
    Up to 2.5% One time fee
    40L Max
    1-5 years
    Ad 100% PAPERLESS APPROVAL
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    Customer Reviews
    10.99% - 18.99% Fixed
    0.50% - 3.00%
    30L Max
    1-5 Years
    Ad Accelerated Approval
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    Fees & Charges
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    25.00% - 32.00% Fixed
    3.00% + taxes One time fee
    75K - 5L
    Upto 4 years
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    Fees & Charges
    Eligibility Criteria
    12.99% - 19.75% Fixed
    0 Bankbazaar Exclusive
    20L Max
    1-6 Years
    100% PAPERLESS APPROVAL
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    18.00% - 36.00% Fixed
    2% - 3% + taxes One time fee
    1L - 5L
    Upto 5 years
    Only KYC docs required
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    11.99% - 25% Fixed
    3%- 6% One time fee
    25L Max
    1-5 Years
    100% PAPERLESS APPROVAL
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    13% - 30% Fixed
    0 Zero Processing Fee
    2L Max
    0 - 4 Years
    What you'll love
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    Fees & Charges
    Good to Know
    Eligibility Criteria
    10.50% - 16.99% Fixed
    Up to 2.5%
    25L Max
    1-5 years
    100% PAPERLESS APPROVAL
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    11.00% - 16.75% Fixed
    0 Bankbazaar Exclusive
    25L Max
    1-5 years
    100% PAPERLESS APPROVAL
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    16.5%-20% Fixed
    Up to 2% or minimum ₹2,000 (whichever is Max) One time fee
    15L Max
    1-5 Years
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    16% - 28% Fixed
    2% - 5%
    50K - 7.5L
    1-4 Years
    100% PAPERLESS APPROVAL
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    23% Fixed
    2% + Taxes
    10L Max
    1 - 2 Years
    What you'll love
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    Amritsar is the largest city in the state of Punjab which is located in the north western part of India. The city is also known as Ramdaspur or Ambarsar.Amritsar is an important cultural, commercial and transportation center in Punjab.

    A personal loan is a kind of unsecured loan which can be used for any purpose that the borrower deems necessary. An unsecured loan is an umbrella term used for loans which do not require collateral. Banks, credit unions, and other financial institutions offer personal loans on an ongoing basis.

    Documentation needed to apply for an Amritsar Personal Loan

    • 1. Photo ID and age proof
    • 2. Signed application form with photograph
    • 3. Residence proof
    • 4. Last 6 months bank statement
    • 5. Documentation for salaried applicants:
      • Last 3 months salary – slips
      • Form 16 or Income Tax Returns
    • 6. Documentation for self-employed applicants:

      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

    Amritsar Personal Loan Interest RatesUpdated on 16 Oct 2019

    Amritsar Personal Loan Details
    Interest Rate (Monthly reducing balance) 13.49% - 34%
    Processing Fees 0.5-2.5%
    Loan Tenure 1 year to 5 years
    Pre-closure Charges 2% - 5%
    Guarantor Requirement No guarantor required

    Personal Loan in Amritsar

    Amritsar is a historical and holy city in Punjab. The city has the famous Golden Temple which attracts thousands of people from across the globe. Amritsar is also called Ambarsar and Ramdaspur. The city has a number of banks and non-banking financial corporations (NBFCs) that offer excellent banking solutions.

    If you are looking for a personal loan for your needs such as home renovation, academic course fees, wedding arrangements, and more, you can apply for one without much trouble.

    You can apply for a personal loan through multiple ways. One of the easiest ways is to apply on the web portal of BankBazaar. Here, you will get an assortment of personal loans with the complete details such as interest rates, processing fee, and special offers for specific loan amounts and specific loan tenures.

    Personal Loans offered by various banks in Amritsar

    Let us take a look at some of the personal loans provided by banks and NBFCs in Amritsar:

    • Standard Chartered
    • Citibank
    • Tata Capital
    • ICICI Bank
    • Oriental Bank
    • Fullerton
    • Aditya Birla
    • Kotak Business Loan
    • Bank of Baroda
    • BOM
    • Central Bank
    • IDBI Bank
    • Karur Vysya
    • SBI
    • South Indian Bank
    • UCO Bank
    • Yes Bank
    • Vijaya Bank

    How to get a Personal Loan with the Lowest Interest Rate in Amritsar

    When you are planning to apply for a personal loan, you need to make sure that you get the best interest rate for your repayment. To achieve this, you will have to maintain an excellent credit score. It should ideally be 750 and above.

    In order to get a low-interest rate, you will have to choose your loan amount and loan tenure very carefully. You should fix your loan amount according to your repayment ability, your monthly income, and your monthly expenditures.

    If you need to boost your credit score, you should make sure that you do not have any outstanding loan EMIs or unsettled credit card bills. Before you apply for the loan, clear all your dues and get an authorised letter that you have cleared everything.

    You should also ensure that you have a steady job record before you apply for a loan. If you keep moving jobs while applying for the loan, your lender may assume that you will not be able to repay the loan promptly due to unstable income. Therefore, before you apply for a personal loan, make sure you have been in the same job for a reasonably long period.

    Personal Loan Interest rates in Amritsar 2018

    Let us take a look at the interest rates for personal loans in Amritsar:

    Bank Interest Rate Range Processing Fee Range Loan Amount Tenure
    Citibank 11.49%-15.99% (Fixed) 1% to 2.5% Rs.30 lakhs 1-5 years
    Capital First 12%-18% (Fixed) Up to 1.5% (OTF*) Rs.15 lakhs 1-5 years
    Standard Chartered 10.99%-14.49% Nil Rs.30 lakhs 1-5 years
    HDBFS 13.99%-16.99% 1%-2% (OTF) Rs.30 lakhs 1-5 years
    TATA Capital 11.99%-19.50% Nil Rs.20 lakhs 1-6 years
    ICICI Bank 11%-17.99% 2.25% (Min. Rs.1,149) Rs.20 lakhs 1-5 years
    IndusInd Bank 11.99%-19% (Fixed) Up to Rs.3,000 (OTF) Rs.25 lakhs 1-5 years
    Oriental Bank 10.85%-11.85% 0.5% (OTF) Rs.50,000-Rs.10 lakhs 1-5 years
    HDFC Bank 10.99%-19.8% (Fixed) Up to 2.5% (OTF) Rs.25 lakhs 1-5 years
    Aditya Birla 11.5% to 13.25% (Fixed) Nil Rs.30 lakhs 1-5 years
    Fullerton 17.25% to 37% (Fixed) 1.5% to 6% (OTF) Rs.15 lakhs 1-4 years
    Kotak Business Loan 12.99% to 14.50% 0.99% to 2% Rs.45 lakhs 1-5 years
    HDBFS Business Loan 15.95%-18.95% (Fixed) 2% (OTF) Rs.20 lakhs 1-3 years
    Kotak Mahindra 11.49% - 20.15%Fixed Up to 2% Rs.15 lakhs 1-5 years
    Allahabad Bank 13.10% (Fixed) 1.22% (Min. Rs.1,228) Rs.50,000 to Rs.7.5 lakhs 1-5 years
    Bank of India 13%-14% (Fixed) Rs.1,000 to Rs.10,000 (GST not included) Rs.10,000-Rs.5 lakhs 1-3 years
    Bank of Baroda 11.35%-14.35% (Fixed) 1% (Min. Rs.1,000) OTF Rs.20,000 to Rs.2 lakhs 4 years
    BOM 12.75% (Fixed) 1% (Min. Rs.1,000) Rs.1.5 lakhs 1-3 years
    Canara Bank 12.75% (Floating) Rs.1,000 to Rs.5,000 (OTF) Rs.3 lakhs 5 years
    Dena Bank 13%-14% (Fixed) 1% (OTF) Rs.15,000 to Rs.1 lakh 1-3 years
    Central Bank 11.4% (Floating) Rs.500 (OTF) Rs.10 lakhs 4 years
    Indian Bank 12.65% to 13.65% (Floating) Rs.508 to 0.508% (OTF) Rs.50,000 Max. 3 years
    IDBI Bank 12.20% (Floating) 1%+S.T. (OTF) Rs.50,000 to Rs.10 lakhs 1-5 years
    IOB 13.65% (Fixed) 1.01% to 1.10% (OTF) Rs.1 lakhs to Rs.15 lakhs 1-5 years
    South Indian Bank 13% (Fixed) 0.50% (OTF) Rs.3 lakhs 1-4 years
    Karur Vysya 13.35% to 15.85% 0.4% (OTF) Rs.1 crore Max. 1-3 years
    SBI 12.90% to 14.90% 1% (OTF) Rs.24,000 to Rs.15 lakhs 5 years
    Vijaya Bank 13.50% (Fixed) Nil Rs.10 lakhs 1-5 years
    Tamilnad Mercantile 14.30% to 16.30% (Floating) 1% (OTF) Rs.2 lakhs Max. 1-5 years
    Union Bank 14.4% (Floating) 0.5% (Min. Rs.500) OTF Rs.5 lakhs Max. 1-5 years
    UCO Bank 11.35% to 11.60% (Fixed) 1% (Min. Rs.750) OTF Rs.10 lakhs 5 years
    Yes Bank 14% (Fixed) Up to 2% (OTF) Rs.20 lakhs 1-5 years

    *OTF – One Time Fee

    Salary Requirements to avail Personal Loans in Amritsar

    When you are applying for a personal loan in Amritsar, you will need to meet certain eligibility criteria. If you apply after checking if you are eligible on the BankBazaar website, your application will get processed more quickly. You will be able to save a lot of time when you evaluate your eligibility. Let us take a look at the salary requirements for personal loans:

    • The minimum age criterion is 21 years old and the maximum age criterion is 65 years old.
    • You should typically be earning more than the minimum income criterion.
    • The minimum income criterion differs for each lender. Your minimum monthly income should be Rs.17,500.
    • You can be a salaried employee or a self-employed person.
    • You will need to submit the following documents for your loan application process: residence proof, age proof, photo ID, bank statements for the most recent 6 months, your application form with your latest photograph, salary slips for 3 months, Income Tax Returns or Form 16.

    Amritsar Personal Loan FAQs

    What is the minimum period for a personal loan?

    The minimum period for a personal loan is 1 year.

    What are the repayment options for a personal loan?

    The repayment options for a personal loan include paying through EMIs, giving a standing order, giving a post-dated cheque, or electronic transfer.

    Will I be able to include the income of my spouse in order to build my personal loan eligibility?

    Yes, you can combine the income of your spouse to get a better personal loan deal by increasing your loan eligibility.

    Will I need to create a bank account in order to apply for a personal loan?

    In case you do not have a bank account with the bank from where you need a personal loan, you do not have to compulsorily get an account with that bank.

    Do I have to choose a flat rate or a floating rate for my personal loan?

    You can choose any of these 2 interest rates for your personal loan.

    A GST rate of 18% will be applicable on banking services and products from 01 July, 2017.

        

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    Amritsar Personal Loan Reviews

    • Fullerton Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I had applied personal loan from Fullerton. I had received the loan amount on time and they disbursed sufficient loan amount. I had submitted my documents online and verification was done on time and it was hassle free. Rate of interest is nominal.
      Was this review helpful? 0
      , amritsar
      Reviewed on Oct 15, 2019
    • HDFC Bank
      HDFC Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I had applied for HDFC Bank personal loan where my I had waited for long time but then I had planned and I had arranged funds from other source and then I had dropped this application but HDFC Bank should be quick to update the customer rather than making to wait.
      Was this review helpful? 0
      , amritsar
      Reviewed on Sep 23, 2019
    • IDFC Bank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had chosen to go with them since it has been very simple in getting a loan through them and i already had a bad experience with another bank. The process in getting the loan has been smooth and they had been cooperative and they had been very much on time. The services which they had provided has been too good and the loan amount and the interest rate has been good as well.
      Was this review helpful? 1
      , amritsar
      Reviewed on Nov 08, 2018
    • Fullerton Personal Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      There is no particular reason for taking the personal loan with the FULLERTON but the loan amount is not sufficient, because i have opted for higher amount. The rate of interest is nominal also the processing fee is there. The customer service is good.
      Was this review helpful? 2
      , amritsar
      Reviewed on Nov 07, 2018
    • Fullerton Personal Loan
      "Need to reduce ROI"
      0.5 3.0/5 "Satisfactory"
      I have taken a personal loan with Fullerton and my loan experience was up to the mark. The loan amount was for Rs 1.30 lakhs with high interest rate when compared to others. Customer service was good and they collected documents on time. The tenure for this loan is 4 years.
      Was this review helpful? 3
      , amritsar
      Reviewed on Jul 06, 2018
    • ICICI Bank Personal Loan
      "Not satisfied"
      0.5 3.0/5 "Satisfactory"
      My application with ICICI bank for personal loan was rejected, the reason why the application was rejected is because my salary is less than Rs 15000. Customer service was good and their response was prompt. The rate of interest was nominal when compared to other banks.
      Was this review helpful? 0
      , amritsar
      Reviewed on Jul 06, 2018
    • Fullerton Personal Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      They had been providing good offers, and the loan experience had been good . The process went well and smooth. The rate of interest has been okay with them but would have been good if it has been less. The customer service has been very good and the loan amount has been satisfactory. It took nearly a month to get the loan amount.
      Was this review helpful? 0
      , amritsar
      Reviewed on May 30, 2018
    • ICICI Bank Personal Loan
      "Rate of interest to be less"
      0.5 4.0/5 "Great!"
      The customer service and response was really fine with ICICI. I have taken 2L with a tenure period of 4 years. I pay EMI as Rs.5509, the payment is debited from salary account. The documentation process is easier. They have disbursed the loan on time. There is no delay in the process. ROI is too much high. They also charge me for an insurance, actually which I don't need it.
      Was this review helpful? 0
      , amritsar
      Reviewed on Nov 09, 2017
    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The ICICI bank personal loan interest rates are high when compared with others. The customer support is good with ICICI bank, there response was good. They loan tenure is for one year. I am not satisfied with the loan amount, still they need to increase the loan amount.
      Was this review helpful? 0
      , amritsar
      Reviewed on Oct 25, 2017
    • ICICI Bank Personal Loan
      "Good customer service"
      0.5 5.0/5 "Blown Away!"
      I have applied for the personal loan from ICICI bank, my loan application was closed because i already had an ongoing loan with other bank. When it comes to customer service, it was good and they were responsive, they followed up on regular intervals. The rate of interest is less comparatively.
      Was this review helpful? 0
      , amritsar
      Reviewed on Oct 23, 2017
    • Punjab National Bank Personal Loan
      "Good customer service"
      0.5 3.5/5 "Pretty good"
      I have applied for the personal loan from PNB, i am happy that my loan application was approved and the required amount was disbursed. The customer service was good and responsive. There was a bit delay in processing the loan amount, it took one week for the loan amount to get approved. The rate of interest is 13% which is high when compared to all other banks.
      Was this review helpful? 6
      , amritsar
      Reviewed on Oct 21, 2017
    • ICICI Bank Personal Loan
      "Slow process"
      0.5 1.0/5 "Really Bad"
      I applied for a personal loan with ICICI Bank and to my surprise I never had a positive response from the bank. The whole process of the bank looked slow and confusing. I suggest the bank improves upon its banking process. A better service towards the customer would heed good for them.
      Was this review helpful? 0
      , amritsar
      Reviewed on Oct 10, 2017
    • ICICI Bank Personal Loan
      "DISSATISFIED"
      0.5 1.0/5 "Really Bad"
      It was not a good experience with ICICI bank for the personal loan as I had applied for a two lakhs and they had given me the loan amount of 1.5 lakhs which I was not happy and the rate of interest was kin of okay for me with13.99% and processing fee and charges what they have charged was around 2500 rupees, and loan got approved in 5 days.
      Was this review helpful? 0
      , amritsar
      Reviewed on Aug 21, 2017
    • ICICI Bank Personal Loan
      "DISSATISFIED"
      0.5 1.0/5 "Really Bad"
      My experience with ICICI bank was not good but now I am not much satisfied because I approached them for personal loan where they unable to process. It was a zero response from the bank to me, later they said my salary is 14500 and they the salary of 15000 then they can process the loan and I have told them that I have my existing loan running from the same bank but still they did not proceed further.
      Was this review helpful? 0
      , amritsar
      Reviewed on Aug 21, 2017
    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The ICICI bank executive told that my salary has not met their eligibility criteria so that was the reason I can't proceed with ICICI bank personal loan application. The customer service is good with ICICI bank. The rate of interest is nominal from ICICI . I got good service from ICICI bank.
      Was this review helpful? 0
      , amritsar
      Reviewed on Aug 18, 2017
    • ICICI Bank Personal Loan
      "Good Experience"
      0.5 4.0/5 "Great!"
      ICICI taken some time for the disbursement otherwise they gave proper follow up on loan process. I am comfortable with their interest rate and processing fee it is nominal as per the market. I am very much satisfied with ICICI bank loan service.
      Was this review helpful? 0
      , amritsar
      Reviewed on Aug 03, 2017
    • ICICI Bank Personal Loan
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      The interest rate offered by ICICI Bank is relatively too high, that was the reason I didn't proceed ahead with the ICICI bank loan. The ICICI executive gave a call and explained me about the products. I would like to suggest that ICICI bank can reduce interest rate in future. Further, I have got a good service from ICICI bank.
      Was this review helpful? 0
      , amritsar
      Reviewed on Jun 23, 2017
    • HDFC Bank Personal Loan
      "Personal loan work is very slow and Bad"
      0.5 0.5/5 "Unacceptable"
      It is totally confused bank . Not tell full requirement of document. So irritated workers in Bank. My experience bad with this instead of others Bank. I dont like open my account in this in case in future. Good Bye . Bank walo. Mere chotti jehi problem nu ena vadda karan lai thanks
      Was this review helpful? 1
      , amritsar
      Reviewed on Jun 13, 2017
    • HDFC Bank Personal Loan
      "Recommandable product"
      0.5 4.0/5 "Great!"
      I personally went to HDFC branch and requested them for the personal loan, there was no documents collected from my end. Because I am an existing customer of HDFC, they asked only customer id to check the offers and disbursed the amount within 30 seconds. I am very much satisfactory with their fast service.
      Was this review helpful? 0
      , amritsar
      Reviewed on May 31, 2017
    • ICICI Bank Personal Loan
      "They should be transaparent in their loan process"
      0.5 2.0/5 "Expected more"
      Three months back I have applied for the personal loan in ICICI, they called and informed my credit score was good they said surely would approve the loan. After 35 days they told my application was rejected without any proper reason. Then ICICI representative called me and asked me to apply for the loan. Hence I posted online request but I don't have interest to continue with ICICI. Finally I took loan from HDFC bank.
      Was this review helpful? 0
      , amritsar
      Reviewed on May 31, 2017
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